Supercycle 2026: The Day the World Buys Precious Metals: From Dollar Weakness to USA–IRAN Conflict: A Turning Point for the Global Commodity Market Analysis by SO OK TRADING
Commodity Market Overview
On January 29, 2026, the global metals and commodities market entered a historic moment. Multiple metals surged to new All-Time Highs simultaneously, driven by U.S. dollar weakness, geopolitical risks, and booming demand from emerging industries such as EVs and AI.
Precious metals have reached extreme levels, with nearly all recording ATHs. Key factors to monitor include the USA–IRAN conflict, China’s restrictions on silver exports, and monetary and fiscal policies from both the U.S. and China.
This is a summary of price movements and the outlook for February 2026. In fact, current prices have already exceeded all prior forecasts — no institution had predicted such a Super Bullish rally across gold, silver, and copper.
1. Gold
Global Spot Price: Surged past $5,500, hitting a high of $5,596/oz
Thai Market Price: Exceeded 80,000 THB/bar of gold; jewelry gold at 82,200 THB
Drivers: U.S.–Iran tensions, dollar at 4-year low, central bank buying
Outlook: If stable above $5,600, next target $5,850–6,000
SO OK TRADING Analysis: Support $5,000, Average $5,300, Ceiling $5,800 → Bullish bias for February
2. Silver
Global Spot Price: Above $117–119/oz
Drivers: Demand from solar cells and AI chips
Outlook: Medium-term potential $135–150
SO OK TRADING Analysis: Support $113, Average $116.5–118, Ceiling $122→ Bullish bias for February
3. Copper
Global Spot Price: New ATH $6.11/lb (~14,000 USD/MT), up $600 in one day
Drivers: Green technology, data centers, AI infrastructure
Outlook: Potential to hold near $6.50 (~14,750 USD/MT) if demand continues
SO OK TRADING Analysis: Support 13,500, Average 13,750–14,250, Ceiling 15,000 USD/MT → Bullish bias for February
4. Aluminium
LME Price: Surged past $3,300/MT, highest since 2022 (up from $3,150)
Thai Scrap Prices: Wire ~65 THB/kg, plate ~60–62 THB/kg, thick ~50 THB/kg
Drivers: EV and grid expansion demand, supply disruptions in Europe/Australia, dollar weakness
Risk: Potential price correction if Indonesia ramps up production
SO OK TRADING Analysis: Support 3,200, Average 3,250–3,300, Ceiling 3,500 USD/MT → Bullish bias for February
Short- and Long-Term Outlook
Short Term (1–3 months): Watch for profit-taking corrections. Gold may dip to $5,200, aluminium to $3,100 if Fed tightens policy → Buy on dips (SO OK Comment)
Long Term (6–12 months): Structural demand shortages keep copper and aluminium strong. Gold remains supported by central bank buying → Overall bullish, but timing is critical (SO OK Comment). Prices are already far beyond forecasts, meaning current entry levels could be risky.
⚠️ Signals to Watch
RSI at 80–90 = Overbought zone → High correction risk
Peace agreements or sudden Fed rate hikes could trigger a Flash Crash of 10–15% in a single day
Strategy for Precious Metals
Current Holders: Take partial profits to reduce risk, but hold some for higher targets
New Buyers: Wait for dips (Buy on Dip), avoid chasing overheated prices
Overall: Market remains bullish but highly volatile. Stop Loss and strict risk management are essential
SO OK TRADING
SO OK TRADING specializes in international trade and commodity market analysis, delivering modern strategic insights across both precious and base metals. We help investors and businesses make confident decisions in highly volatile markets.
Conclusion
January 29, 2026 marks the beginning of a Supercycle. Gold, silver, copper, and aluminium all surged together, but rapid gains also bring high risks. The best strategy is to hold partially for higher targets and buy on dips to secure safer entry costs.
Lucky & Wealthy ✨
